UPDATE: TJX Buys Sierra Trading Post for $200M

The TJX Companies, Inc.

, the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced that it has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming. The purchase price of approximately $200 million, which is subject to customary post-closing adjustments, was paid in cash and financed from TJX's existing cash balances. TJX expects that this transaction will be slightly accretive to earnings beginning in fiscal 2014, but that this impact will not be material to TJX's consolidated financial statements.